Anu’s Labs IPO opens on May 12th

Anu’s Laboratories IPO is ready to hit the markets on 12th May, 2008 with an issue of over 38 lakh equity shares of Rs 10 each with a price band of Rs 200 to Rs 210 per equity share with the subscription of the issue closing on15th May 2008.

About the Company

Anus Laboratories is engaged in the manufacture of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers. The company was incorporated in 1996 for manufacturing of Bulk Active Pharma Ingredients and Intermediates for drug molecules and was promoted by Mr. K. Hari Babu. The Company exports its products to Israel, Italy, Japan, France, USA and Singapore which comprise of 19.97% of the total sales turnover.

Financials of the company

Anu’s Laboratories total income during the Financial Year ended March 31, 2007 was Rs 12,129.52 lakhs as against Rs. 9,533.93 lakhs in the Financial Year ended March 31, 2006 and the net profit during the corresponding period was Rs 1,359.15 lakhs against Rs. 557.25 lakhs respectively. The total income and the net profit for the nine months period ended December 31, 2007 were Rs. 11,382.26 lakhs and Rs. 1,312.36 lakhs respectively.

Purpose of the Anus Laboratories IPO

In order to expand its current activities by means of forward integration, the Company has decided to expand its operations by setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients (APIs) at Vishakhapatnam.

With an estimated cost of Rs 55.09 crores and setting up a pilot plant for carrying out Contract Research and Manufacturing (CRAM) at Vishakhapatnam at an estimated cost of Rs 8.34 crores.The long term working capital requirements would be Rs 16.67 crores. The Company plans to meet the aforesaid objects by means of issue proceeds and internal accruals.
Anu’s Labs IPO Grade:
The IPO has been graded by ICRA and has assigned “ICRA IPO Grade 2” to the Initial Public Offering which indicates below average fundamentals of the issue.

Book Running Lead Manager to the Anus Laboratories IPO is Almondz Global Securities Ltd, and Karvy Computershare Pvt Ltd is the Registrar for the Issue. The Equity shares of the Anu’s Labs IPO are proposed to be listed on BSE.

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